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All Journal Enrichment : Journal of Management Proceeding National Conference Business, Management, and Accounting (NCBMA) Proceeding of International Conference on Entrepreneurship (IConEnt)
Nugroho, Vina
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Economics, Econometrics & Finance Social Sciences

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The Effect of Financial Distress on Capital Structure in Indonesia Banking Sector Deliana, Deliana; Nugroho, Vina
Proceeding of International Conference on Entrepreneurship (IConEnt) Vol 3 (2023): Proceeding of 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

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Abstract

Banking industry is believed as a vanguard of a country’s economy. If a bank experiences financial distress, not only that bank will face financial difficulties, but also have a systemic impact on all customers of that bank. So, capital structure of banking industry is a crucial thing. Capital structure in this study is proxied by Leverage Ratio. All of companies need leverage, but if leverage seems too high, it will have bad consequences for the company itself. Then, Banks, which are industry that really needs high liquidity also need leverage. Especially, when financial distress occurs, whether banks need to increase the proportion of their debt or not in order to survive. This research uses 23 commercial banks in Indonesia with quarterly panel data from 2012 to 2022. Results of this study state that Financial Distress can have a significant positive effect on increasing the Leverage Ratio of banks in Indonesia.
FINANCIAL EDUCATION TOWARDS EARLY INVESTMENT IN HIGH SCHOOL STUDENTS: EVIDENCE FROM A RADOMIZED EXPERIMENT Nugroho, Vina; Budhidharma, Valentino; Kim, Sung Suk
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Abstract

This study investigate the effect of financial literacy towards investment decision among high school students in Jabodetabek. Students were provided with workshop of financial investment. This study address the following questions : are young people are financially literate? How can we enhance their financial literacy? We did pre test and post test for them. From pre test analysis, we found that most young peoples are not familiar with financial literacy. Because, only 39% from sample are familiar with concept of inflation. We use “interest rate” and “inflation” questions to be tested whether respondents were knowledgeable about those two criteria. This paper uses randomized experience to explore how financial literacy changes investment decision among young peoples. The effect of financial literacy program are strong. After having workshop, students are more knowledgeable about financial literacy that might be useful for their financial decision.
Moderating Role of Liquidity Ratio: A Look at Firm Performance in Indonesia Jeanyfer, Jeanyfer; Nugroho, Vina
Enrichment : Journal of Management Vol. 14 No. 5 (2024): December: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v14i5.2131

Abstract

This research investigates the impact of corporate income tax, asset turnover, and liquidity on firm performance, as measured by Tobin's Q, in Indonesian non-financial listed companies between 2013 and 2023. Employing panel data analysis, we find that higher corporate income tax rates negatively affect firm performance. While asset turnover and liquidity ratio exhibit less significant impacts, our analysis reveals that liquidity plays a moderating role in the relationship between asset turnover and firm performance. These findings emphasize the significance of effective liquidity management and efficient asset utilization for improving corporate performance and stimulating economic growth in Indonesia.
Analyzing the credit risk, liquidity, and performance of diversified banking firms listed on the Indonesia Stock Exchange Jessica, Jessica; Nugroho, Vina
Enrichment : Journal of Management Vol. 14 No. 5 (2024): December: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v14i5.2133

Abstract

The research investigates the factors that influence investment diversification in conventional banks in Indonesia, with a particular emphasis on liquidity risk, credit risk, profitability, inflation, GDP, bank size, interbank ratios, capitalization, and board governance characteristics. Investment strategies and risk management were examined using data from the Indonesian banking sector and subsequently, the empirical findings based on the application of Ordinary Least Squares (OLS) will be presented. The findings indicated that investment concentration is being driven by liquidity risk, while diversification is being discouraged by credit risk. Diversification is positively influenced by profitability, while inflation has a negative impact on it. Diversified strategies are more effectively implemented by institutions that are larger and more adequately capitalized. The direct impact of board diversity on diversification is limited by the broader governance structures. The findings indicate that liquidity risk drives investment concentration, as banks prioritize liquid assets during periods of heightened risk. Similarly, credit risk discourages diversification, pushing banks to focus on safer, familiar investments. Conversely, profitability positively influences diversification, enabling banks to allocate resources toward balanced and diverse portfolios. Inflation negatively affects diversification by increasing investment concentration, while GDP shows no significant impact, contradicting previous studies. Larger and well-capitalized banks are better equipped to pursue diversified strategies, while interbank ratios exhibit no significant influence. Board diversity, though widely regarded as a factor in decision-making, shows limited direct impact on diversification, likely due to broader governance structures. To enhance financial stability, policymakers should concentrate on the following: managing liquidity and credit risks, maintaining stable inflation, strengthening governance, empowering smaller banks, encouraging innovative financial products, and investigating governance-diversification links
The Effect of Financial Distress on Capital Structure in Indonesia Banking Sector Deliana, Deliana; Nugroho, Vina
Proceedings of the International Conference on Entrepreneurship (IConEnt) Vol. 3 (2023): Proceedings of the 3rd International Conference on Entrepreneurship (IConEnt)
Publisher : Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Banking industry is believed as a vanguard of a country’s economy. If a bank experiences financial distress, not only that bank will face financial difficulties, but also have a systemic impact on all customers of that bank. So, capital structure of banking industry is a crucial thing. Capital structure in this study is proxied by Leverage Ratio. All of companies need leverage, but if leverage seems too high, it will have bad consequences for the company itself. Then, Banks, which are industry that really needs high liquidity also need leverage. Especially, when financial distress occurs, whether banks need to increase the proportion of their debt or not in order to survive. This research uses 23 commercial banks in Indonesia with quarterly panel data from 2012 to 2022. Results of this study state that Financial Distress can have a significant positive effect on increasing the Leverage Ratio of banks in Indonesia.
FINANCIAL EDUCATION TOWARDS EARLY INVESTMENT IN HIGH SCHOOL STUDENTS: EVIDENCE FROM A RADOMIZED EXPERIMENT Nugroho, Vina; Budhidharma, Valentino; Kim, Sung Suk
Proceeding National Conference Business, Management, and Accounting (NCBMA) 7th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study investigate the effect of financial literacy towards investment decision among high school students in Jabodetabek. Students were provided with workshop of financial investment. This study address the following questions : are young people are financially literate? How can we enhance their financial literacy? We did pre test and post test for them. From pre test analysis, we found that most young peoples are not familiar with financial literacy. Because, only 39% from sample are familiar with concept of inflation. We use “interest rate” and “inflation” questions to be tested whether respondents were knowledgeable about those two criteria. This paper uses randomized experience to explore how financial literacy changes investment decision among young peoples. The effect of financial literacy program are strong. After having workshop, students are more knowledgeable about financial literacy that might be useful for their financial decision.
The relationship between capital structure and firm performance: The moderating role of agency cost Pranata, Robby; Nugroho, Vina
Enrichment : Journal of Management Vol. 14 No. 6 (2025): February: Management Science And Field
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/enrichment.v14i6.2175

Abstract

This research investigates the relationship between capital structure and financial performance, with a particular focus on the moderating influence of agency costs. It analyzes the impact of capital structure on financial outcomes through the perspective of agency costs. Data was obtained from non-financial firms listed on the Indonesia Stock Exchange (IDX) between 2020 and 2022. Capital structure is represented using metrics such as the debt-to-asset ratio and debt-to-market capitalization, while financial performance is measured through indicators like return on assets (ROA), Tobin’s Q, and earnings per share (EPS). The results reveal that, although capital structure can negatively influence financial performance, agency costs can serve as a positive moderating factor. By considering various performance metrics, the study highlights the significance of adopting a holistic approach to analyzing capital structure. The research aims to provide a deeper understanding of the dynamic interplay between capital structure and financial performance
Co-Authors Budhidharma, Valentino Deliana, Deliana Jeanyfer, Jeanyfer Jessica Jessica Pranata, Robby Sung Suk Kim